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Invesco Value Municipal Income Trust
IIM

76 hedge funds and large institutions have $54.8M invested in Invesco Value Municipal Income Trust in 2016 Q4 according to their latest regulatory filings, with 18 funds opening new positions, 20 increasing their positions, 19 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more first-time investments, than exits

New positions opened: 18 | Existing positions closed: 9

11% more capital invested

Capital invested by funds: $49.4M → $54.8M (+$5.42M)

10% more funds holding

Funds holding: 69 → 76 (+7)

1.53% more ownership

Funds ownership: 6.44% → 7.98% (+1.5%)

5% more repeat investments, than reductions

Existing positions increased: 20 | Existing positions reduced: 19

Holders
76
Holders Change
+7
Holders Change %
+10.14%
% of All Funds
1.9%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
18
Increased
20
Reduced
19
Closed
9
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
+$5.58M
2
Morgan Stanley
Morgan Stanley
New York
+$3.24M
3
RCM
Robinson Capital Management
Michigan
+$3.18M
4
LCM
Landscape Capital Management
New Jersey
+$2.16M
5
Geode Capital Management
Geode Capital Management
Massachusetts
+$1.07M

Top Sellers

Rank Fund Capital Flow
1
CRC
Curi RMB Capital
Illinois
-$3.59M
2
LCM
Laurion Capital Management
New York
-$2.34M
3
DA
Doliver Advisors
Texas
-$1.76M
4
TC
TFS Capital
Pennsylvania
-$647K
5
CA
Cetera Advisors
Colorado
-$599K
Name Holding Trade Value Shares
Change 		Change in
Stake
PNC Financial Services Group
26
PNC Financial Services Group
Pennsylvania
$571K -$77.3K -5,154 -12%
FFA
27
First Foundation Advisors
California
$544K +$557K +37,171 New
BTS
28
BB&T Securities
Virginia
$541K – – –
MRCM
29
M&R Capital Management
New Jersey
$517K – – –
CA
30
Cetera Advisors
Colorado
$466K -$599K -39,948 -56%
AA
31
AQR Arbitrage
Connecticut
$444K +$455K +30,342 New
LTFS
32
Ladenburg Thalmann Financial Services
Florida
$442K -$170K -11,338 -27%
Baird Financial Group
33
Baird Financial Group
Wisconsin
$430K +$441K +29,387 New
Squarepoint
34
Squarepoint
New York
$421K +$432K +28,777 New
RJA
35
Raymond James & Associates
Florida
$375K +$86.5K +5,769 +29%
SPC
36
Sigma Planning Corp
Michigan
$341K +$64.8K +4,319 +23%
Cambridge Investment Research Advisors
37
Cambridge Investment Research Advisors
Iowa
$332K +$44.4K +2,958 +15%
SCA
38
STALEY CAPITAL ADVISERS
Pennsylvania
$322K +$330K +22,000 New
MIM
39
Macroview Investment Management
Maryland
$309K -$74.8K -4,985 -19%
WMG
40
WESCAP Management Group
California
$308K – – –
CAN
41
Cetera Advisor Networks
California
$296K -$282K -18,805 -48%
Creative Planning
42
Creative Planning
Kansas
$277K -$34.4K -2,292 -11%
Stifel Financial
43
Stifel Financial
Missouri
$259K -$195K -12,987 -42%
SWA
44
SFMG Wealth Advisors
Texas
$248K +$254K +16,927 New
Koshinski Asset Management
45
Koshinski Asset Management
Illinois
$242K -$54.7K -3,647 -18%
US Bancorp
46
US Bancorp
Minnesota
$231K – – –
IA
47
IFP Advisors
Florida
$223K -$35K -2,334 -13%
FHA
48
Flagship Harbor Advisors
Massachusetts
$213K +$216K +14,423 New
CCM
49
Catawba Capital Management
Virginia
$212K – – –
EWM
50
Edge Wealth Management
New York
$211K +$187K +12,460 +623%
1
2
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IIM Hedge Fund Activity: Q4 2016 in Review

76 of the 4,000 institutional investors tracked by Wall St. Rank reported a position in Invesco Value Municipal Income Trust (IIM) for Q4 2016, worth a combined $54.8M — up 11% from $49.4M a quarter earlier.

Buyers outnumbered sellers: 18 funds opened new IIM positions and 9 closed out — a net gain of 9 holders — while 20 added to existing stakes and 19 trimmed.

The largest buyer was Fiera Capital (Canada), opening a new position worth an estimated $5.58M. The largest seller was Curi RMB Capital, cutting an estimated $3.59M.

  • 76 institutional investors held Invesco Value Municipal Income Trust (IIM) as of Q4 2016, up from 69 in Q3 2016.
  • Funds reported $54.8M of Invesco Value Municipal Income Trust stock for Q4 2016, up 11% quarter-over-quarter.
  • 18 funds opened new Invesco Value Municipal Income Trust positions in Q4 2016 and 9 closed out, a net change of +9 holders.
  • The largest Invesco Value Municipal Income Trust buyer in Q4 2016 was Fiera Capital (Canada), an estimated $5.58M added.
  • The largest Invesco Value Municipal Income Trust seller in Q4 2016 was Curi RMB Capital, an estimated $3.59M sold.

Based on aggregated 13F filings for Q4 2016.